Jiji Press TOKYO (Jiji Press) — Nippon Life Insurance Co. is considering increasing dividend payments to policyholders for fiscal 2017, which ends this month, informed sources said recently.
The dividend increase, totaling ¥30 billion, will cover some seven million individual contracts, the sources said.
The move comes as death rates in the standard mortality table, a calculation base for insurance premiums, are set to fall under a revision in April.
Nippon Life also plans to reduce death insurance premiums for new policyholders, by up to 24 percent, the sources said.
Life insurance companies pay dividends to policyholders when their profits increase on investment gains or reduced benefit payouts.